# @kamaatcheson_ on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/DT0JyDGCWKw
- **Gondola URL:** https://gondola.cc/posts/61203217-kamaatcheson-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/fb1febf5ec.jpg
- **Posted:** 2026-01-22T13:37:10.000+00:00
- **Account Owner:** Kama Atcheson (@kamaatcheson_) — https://gondola.cc/kamaatcheson_

## Caption

🚨 Aussie Banking Alert: in1Bank is closing down!

Recent update that could affect you, your business or someone you know:

📍 in1Bank,  a local Australian neobank just announced it’s discontinuing its banking business. Accounts will be shut down and the app will be turned off by 5 Feb 2026. �

Here’s what you need to know 👇

💥 Why is this happening?

The bank started in 2019, got a full licence in 2023, but remained very small - $3M in loans out ~$19M in deposits by late 2025.

The bank hasn’t given a full reason but the reality is that challenger banks in Australia have been having a really tough time scaling and staying profitable in a market dominated by the big players, and some have had to exit the industry, most recent are Volt Bank & Xinja.

🚨 Your money is safe … but action is needed!

✔ Your deposits are protected under Australia’s Financial Claims Scheme (up to $250,000 per person). 

✔ BUT you must confirm where you want your money

👉 Starting 23 Jan, in1Bank will automatically transfer your balance to the account you confirm. Accounts will fully close & final statements issued on 5 Feb. 

🔁 Got recurring payments or payroll?

Cancel or update them now so they don’t get rejected after the switch. 

💡 Loans? They don’t disappear — you’ll either keep them on the same terms or can move across to reduce your balance. 

This is another sign that Australia’s neo-bank boom is facing serious headwinds.

#in1Bank #BankClosure #AussieFinance #NeobankNews #MoneySafety #FinancialTips

## Stats

- **Views:** 0
- **Likes:** 18
- **Shares:** 0
- **Comments:** 4

## Tags

neobanknews, bankclosure, in1bank, moneysafety, aussiefinance, financialtips

---
Copyright (c) Gondola